Shape Memory Alloys Market Size, Share & Trends Analysis Report By Product, By End Use (Biomedical, Aerospace & Defense, Automotive, Consumer Electronics & Household), By Region, And Segment Forecasts, 2019 - 2025

Published: Oct, 2019 | Pages: 90 | Publisher: Grand View Research
Industry: Materials | Report Format: Electronic (PDF)

The global shape memory alloys market size is expected to reach USD 26.0 billion by 2025 at a CAGR of 12.8%, according to a new report by Grand View Research, Inc. Shape memory alloy (SMA) refers to a metallic material that can be bent or stretched in its cool state. The alloy regains its original shape when heated above the transition temperature. Low temperature (martensite) and high temperature (austenite) are two stable phases of SMAs.

Gradual expansion of the automotive industry is likely to play a significant role in the demand for shape memory alloy products over the forecast period. Shape memory alloy (SMA) actuators are gaining popularity among automobile manufacturers owing to properties such as shape memory effect (SME) and super elasticity (SE). In addition, SMA actuators do not need complex and bulky design to function. Currently, there are very few applications of shape memory alloys in the automotive industry. However, increasing R&D investments by automobile manufacturers to find potential applications such as climate control, door locks, engine control valve, and actuators will drive the market.

Aerospace and defense is another promising sector for shape memory alloy products. Rising focus on multi-functionality and reliability is driving demand for advanced materials such as SMAs in aerospace applications. Such industrial applications include spacecraft, rotorcraft, and fixed-wing aircraft.

The biomedical segment is expected to exhibit a CAGR of 13.1% over the forecast period. Nickel-titanium alloy (nitinol) is one of the key raw materials, which is largely used in medical devices. Medical devices made from nitinol include dental wires, needles, catheter tubes, archwires, guidewires, and other surgical instruments. The biomedical industry is facing many challenging applications that are testing the capability of SMAs. Recent research and development activities are aimed at improving the fatigue life of the material and producing materials with low inclusion sizes.

In 2018, Mishra Dhatu Nigam (MIDHANI), an Indian manufacturer, developed new nitinol material that helps in reducing the stent prices for biomedical and heart devices. The company has also signed a Transfer of Technology Agreement with NAL, in order to explore new areas in biomedical sector.

Asia Pacific is projected to remain a key regional shape memory alloys market over the coming years. Various research institutes and organizations are focusing on development of new industrial applications. Additionally, increasing investments in smart materials, coupled with tax incentives in the manufacturing industry, are likely to boost the China market, thereby fueling the regional market. As per the 13th Five-Year Development Plan of China, new and smart materials such as shape memory alloys, graphene, and nanomaterials are likely to remain focus areas for investors.

Further key findings from the report suggest:

• The biomedical segment is expected to account for the highest market share of 62.0% in 2025. Growth of this segment is attributed to increasing R&D in medical devices and surgical instruments

• The Nickel titanium alloys (nitinol) segment is anticipated to grow at a CAGR of 13.1% during the forecast period. Increasing R&D activities for application-specific products are aiding the growth of this segment

• Asia Pacific is the second largest regional market. Growing population in India and China and increased investment in the healthcare sector are projected to remain key drivers for the long term.

• Europe is anticipated to grow at a CAGR of 12.6% during the forecast period. Increasing demand from aerospace and automotive industries are likely to contribute to product demand

• Some of the key players in the market are SAES Group, ATI, Nippon Steel Corporation, Furukawa Electric Co., Ltd., Seabird Metal, and Johnson Matthey. New product development and investment in R&D are key growth strategies of these players.

 Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Market segmentation & scope
                   1.2 Market definition
                   1.3 List of data sources
                   1.4 Information procurement
                   1.5 Information analysis
                   1.6 Market formulation & data visualization
                   1.7 Data validation & publishing
Chapter 2 Executive Summary
                   2.1 Market outlook
                   2.2 Segmental outlook
                   2.3 Competitive Insights
Chapter 3 Shape Memory Alloys Market Variables, Trends, and Scope
                   3.1 Market outlook
                       3.1.1 Global alloys market outlook
                   3.2 Penetration & growth prospect mapping
                   3.3 Industry value chain analysis
                       3.3.1 Raw materials trends
                           3.3.1.1 Titanium
                           3.3.1.2 Copper
                           3.3.1.3 Nickel
                           3.3.1.4 Aluminum
                           3.3.1.5 Zinc
                           3.3.1.6 Iron
                       3.3.2 Distribution channel analysis
                       3.3.3 Vendor selection criteria analysis
                       3.3.4 Manufacturing and technology trends
                   3.4 Regulatory framework
                   3.5 Market dynamics
                       3.5.1 Market driver analysis
                           3.5.1.1 Growth of biomedical sector
                           3.5.1.2 Growing automotive industry
                       3.5.2 Market restraint analysis
                           3.5.2.1 Fluctuations in raw material prices
                       3.5.3 Industry challenges
                   3.6 Shape memory alloys market - Business environment analysis
                       3.6.1 Industry analysis - Porter's
                       3.6.2 PESTEL analysis
Chapter 4 Shape Memory Alloys Market: Product Estimates & Trend Analysis
                   4.1 Definition & scope
                   4.2 Product movement analysis & market share, 2018 & 2025
                   4.3 Nickel-titanium (nitinol) alloys
                       4.3.1 Market estimates and forecasts, 2014 - 2025) (USD million)
                   4.4 Copper-based alloys
                       4.4.1 Market estimates and forecasts, 2014 - 2025 (USD million)
                   4.5 Others
                       4.5.1 Market estimates and forecasts, 2014 - 2025 (USD million)
Chapter 5 Shape Memory Alloys Market: End-Use Estimates & Trend Analysis
                   5.1 Definition & scope
                   5.2 End-use movement analysis & market share, 2018 & 2025
                   5.3 Biomedical
                       5.3.1 Market estimates and forecasts in biomedical, 2014 - 2025 (USD million)
                   5.4 Automotive
                       5.4.1 Market estimates and forecasts in automotive, 2014 - 2025 (USD million)
                   5.5 Aerospace & defense
                       5.5.1 Market estimates and forecasts in aerospace & defense, 2014 - 2025 (USD million)
                   5.6 Consumer electronics & household
                       5.6.1 Market estimates and forecasts in consumer electronics & household, 2014 - 2025 (USD million)
                   5.7 Others
                       5.7.1 Market estimates and forecasts in other end-uses, 2014 - 2025 (USD million)
Chapter 6 Shape Memory Alloys Market: Regional Estimates & Trend Analysis
                   6.1 Regional market snapshot
                   6.2 Regional movement analysis, 2018 & 2025
                   6.3 North America
                       6.3.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                       6.3.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                       6.3.3 Shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                       6.3.4 U.S.
                           6.3.4.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.3.4.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.3.4.3 Shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                       6.3.5 Canada
                           6.3.5.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.3.5.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.3.5.3 Shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                   6.4 Europe
                       6.4.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                       6.4.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                       6.4.3 Shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                       6.4.4 Germany
                           6.4.4.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.4.4.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.4.4.3 Shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                       6.4.5 U.K.
                           6.4.5.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.4.5.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.4.5.3 Shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                       6.4.6 France
                           6.4.6.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.4.6.2 Shape memory alloys market estimates and forecasts, by product 2014 - 2025 (USD Million)
                           6.4.6.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                   6.5 Asia Pacific
                       6.5.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                       6.5.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                       6.5.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                       6.5.4 China
                           6.5.4.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.5.4.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.5.4.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                       6.5.5 India
                           6.5.5.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.5.5.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.5.5.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                       6.5.6 Japan
                           6.5.6.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.5.6.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.5.6.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                   6.6 Central & South America
                       6.6.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                       6.6.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                       6.6.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                       6.6.4 Brazil
                           6.6.4.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                           6.6.4.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                           6.6.4.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
                   6.7 Middle East & Africa
                       6.7.1 Shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
                       6.7.2 Shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
                       6.7.3 Shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Chapter 7 Competitive Analysis
                   7.1 Key global players & recent developments & their impact on the industry
                   7.2 Vendor landscape
                       7.2.1 List of key distributors and channel partners
                       7.2.2 Customer mapping, by region
                   7.3 SWOT, by top players
Chapter 8 Company Profiles
                   8.1 SAES Group
                       8.1.1 Company overview
                       8.1.2 Financial performance
                       8.1.3 Product benchmarking
                       8.1.4 Strategic initiatives
                   8.2 ATI
                       8.2.1 Company overview
                       8.2.2 Financial performance
                       8.2.3 Product benchmarking
                       8.2.4 Strategic initiatives
                   8.3 Nippon Steel Corporation
                       8.3.1 Company overview
                       8.3.2 Financial performance
                       8.3.3 Product benchmarking
                       8.3.4 Strategic initiatives
                   8.4 Furukawa Electric Co., Ltd.
                       8.4.1 Company overview
                       8.4.2 Financial performance
                       8.4.3 Product benchmarking
                       8.4.4 Strategic initiatives
                   8.5 Johnson Matthey
                       8.5.1 Company overview
                       8.5.2 Financial performance
                       8.5.3 Product benchmarking
                       8.5.4 Strategic initiatives
                   8.6 Seabird Metal Material Co., Ltd.
                       8.6.1 Company overview
                       8.6.2.Financial performance
                       8.6.3 Product benchmarking
                       8.6.4 Strategic initiatives
                   8.7 Dynalloy Inc.
                       8.7.1 Company overview
                       8.7.2 Financial performance
                       8.7.3 Product benchmarking
                       8.7.4 Strategic initiatives
                   8.8 Fort Wayne Metals Research Products Corp.
                       8.8.1 Company overview
                       8.8.2 Financial performance
                       8.8.3 Product benchmarking
                       8.8.4 Strategic initiatives
                   8.9 Nippon Seisen Co. Ltd.
                       8.9.1 Company overview
                       8.9.2 Financial performance
                       8.9.3 Product benchmarking
                       8.9.4 Strategic initiatives
                   8.10 xsma, Inc.
                       8.10.1 Company overview
                       8.10.2 Financial performance
                       8.10.3 Product benchmarking
                       8.10.4 Strategic initiatives

List of Tables

Table 1 Nickel-titanium shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 2 Copper-based shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 3 Other shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 4 Shape memory alloys market estimates and forecasts in biomedical, 2014 - 2025 (USD Million)
Table 5 Shape memory alloys market estimates and forecasts in automotive, 2014 - 2025 (USD Million)
Table 6 Shape memory alloys market estimates and forecasts in aerospace & defense, 2014 - 2025 (USD Million)
Table 7 Shape memory alloys market estimates and forecasts in consumer electronics & household, 2014 - 2025 (USD Million)
Table 8 Shape memory alloys market estimates and forecasts in other end-uses, 2014 - 2025 (USD Million)
Table 9 North America shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 10 North America shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 11 North America shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
Table 12 U.S. shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 13 U.S. shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 14 U.S. shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
Table 15 Canada shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 16 Canada shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 17 Canada shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
Table 18 Europe shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 19 Europe shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 20 Europe shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
Table 21 Germany shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 22 Germany shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 23 Germany shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
Table 24 U.K. shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 25 U.K. shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 26 U.K. shape memory alloys market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
Table 27 France shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 28 France shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 29 France shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 30 Asia Pacific shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 31 Asia Pacific shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 32 Asia Pacific shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 33 China shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 34 China shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 35 China shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 36 India shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 37 India shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 38 India shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 39 Japan shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 40 Japan shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 41 Japan shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 42 Central & South America shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 43 Central & South America shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 44 Central & South America shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 45 Brazil shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 46 Brazil shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 47 Brazil shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)
Table 48 Middle East & Africa shape memory alloys market estimates and forecasts, 2014 - 2025 (USD Million)
Table 49 Middle East & Africa shape memory alloys market estimates and forecasts, by product, 2014 - 2025 (USD Million)
Table 50 Middle East & Africa shape memory alloys market estimates and forecasts, by end-use, 2014 - 2025 (USD Million)

List of Figures

Fig. 1 Shape memory alloys market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Segment outlook
Fig. 7 Competitive Insights
Fig. 8 Shape memory alloys market revenue, 2014-2025, (USD Million)
Fig. 9 Industry value chain analysis
Fig. 10 Global nickel consumption, by application (%) (2018)
Fig. 11 Global nickel consumption (percentage), by end-use industry (2018)
Fig. 12 Global automotive production & sales 2014-2017 (Thousand units)
Fig. 13 Global vehicles production 2018 (%)
Fig. 14 Market restraint analysis
Fig. 15 Porter's analysis
Fig. 16 PESTEL analysis
Fig. 17 Shape memory alloys market: Product movement analysis, 2018 & 2025
Fig. 18 Shape memory alloys market: End-Use movement analysis, 2018 & 2025
Fig. 19 Shape memory alloys market: Regional snapshot
Fig. 20 Shape memory alloys market: Regional movement analysis, 2018 & 2025
Fig. 21 SWOT, by top players